Official announcements from the Ethiopian government or credible news sources such as Reuters or Bloomberg.

Ethiopia Proposes 18% Eurobond Haircut, Expects Official Creditors' Agreement by December

Oct 2, 2024, 10:53 AM

Ethiopia has proposed an 18% reduction on the nominal value of its $1 billion Eurobond as part of its ongoing debt restructuring efforts. Despite the proposal, an influential group of bondholders has already rejected the offer, highlighting the challenges facing the country's debt negotiations. The government expects to reach an agreement in principle with official creditors by December this year, according to a presentation to investors. Ethiopia envisions the restructuring to include nine amortization installments.